designated system

What is designated system?

designated system definition and meaning on Finance terms:
A system governed by the law of an EEA Member State and designated to the European Commission by the competent national authorities in accordance with Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems. <

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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